The Hut Group has announced it has acquired online health and beauty specialist, the Lookfantastic Group.
The acquisition cost £19.4m and will see Lookfantastic’s online stores such as lookfantastic.com, lookmantastic.com and beautysleuth.co.uk integrated into The Hut’s extensive portfolio.
As such, the 1m+ predominantly female customer base that Lookfantastic has established over the years will be targeted by The Hut’s cross-site marketing system, pushing products such as video games from its outlets such as Zavvi.com, Gifted.com and the recently acquired IWantOneOfThose.com.
“We are delighted to have entered into a partnership with the Lookfantastic team,” said The Hut Group’s founder and CEO Matthew Moulding. “Lookfantastic is a great business with a strong culture fit with The Hut Group and the strength of the exisiting team is a key win for us.”
As part of the deal, Lookfantastic Group CEO Daniel Crown will join the Board of The Hut Group.
Crown added: “When we spoke to The Hut, we immediately recognised they were the right partner for the next stage of Lookfantastic’s growth. Together we aim to create a luxury consumer division and are absolutely dedicated to ensuring that we promote and protect our brand partners, whilst continually enhancing the customer experience.”